Adriano Pires gives up his nomination for the presidency of Petrobras

Adriano Pires gives up his nomination for the presidency of Petrobras

Appointed a week ago to take charge of Petrobras, economist and consultant Adriano Pires announced tonight (4th) that he had withdrawn from the position. In a letter sent to the Minister of Mines and Energy, Bento Albuquerque, Pires thanked him for the invitation, but informed that his professional experience in consulting prevents him from taking on the role.Adriano Pires gives up his nomination for the presidency of Petrobras

“It became clear to me that I could not reconcile my work as a consultant with the presidency of Petrobras. I immediately started the procedures to leave the Brazilian Infrastructure Center (CBIE), a consultancy I founded more than 20 years ago and today I manage in partnership with my son. Throughout the process, however, I realized that unfortunately I am not able to do it in such a short time”, highlighted Pires in the document.

Pires had been appointed to replace retired general Joaquim Silva e Luna in the presidency of the state-owned company. However, several minority shareholders questioned conflicts of interest arising from the economist’s professional activity.

The possibility that Pires would withdraw had caused tensions in the stock exchange throughout the day. At company shares fell 0.85% (common shares) and 0.94% (preferred shares) this Monday.

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